Categorized | Mobile & Wireless

Facebook to Boost Mobile Shopping?

Facebook got a lot of publicity last week for what it described as a “very small test” of a new payment system designed to simplify shopping on mobile phones.

The mobile payment system would store credit card information so users could buy stuff faster, using fewer clicks, rather than have to type in their name and credit card number on the small keyboard of a phone.

While it was initially reported as a competitor to Facebook’s current payments partner, eBay’s PayPal, Facebook clarified that its new system is designed to help, not compete with PayPal. That’s because Facebook wouldn’t actually be processing payments, it would still use whatever payment processor each shopping app employs, such as PayPal or Braintree.

TechCrunch speculated that a key goal for Facebook is to increase its mobile advertising revenue by collecting more granular data on which ads lead to actual sales. Read more.

Source: About.com
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